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vancouvers housing market - an overview

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x] # # - UPDATE article# 4945 - vancouvers housing market - x] ADD links news - x] # # - when will the van housing bubble burst? x] # # - van housing - by ryan holmes

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] comment - housing - foreign investment

Let's assume the gov grew a pair and said hey this is an important issue for Canadians living/working in these cities, so foreign ownership is no longer allowed. What happens next?

- Will the economy tank?

- Will the price of Housing in these markets drop?

- Will their be an uprising of the silent majority(homeowners) who feel that the values of their homes maybe impacted?

] article - should foreign investment be controlled or stopped?

+ TAX - foreign

- a new temporary national tax on foreign ownership

- 20% tax paid to federal government on all home purchases (GTA,GVA)

- anyone caught gaming system would by subject to property forfeiture

- income generated from the tax is directed to building "affordable" housing in targeted areas

+ TAX - speculation

- a new temporary tax on homes resold < 5 years after their previous sale in selected markets(GTA, GVA)

- individuals can claim a 1x exception

- ex buyer joe buys house in Vancouver in 2012, in 2014 joe gets transferred to toronto and sells house. buyer bill

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Details

ID: 5984

NAME: CREATE-article

DESCRIPTION: ] Vancouvers housing market - looking at the issues plaguing the overheated Vancouver housing market (CC Toronto housing market )

START DATE TIME: 2016-02-09 09:40:36

EST DURATION: 01:00:00

END DATE TIME: 2016-02-09 10:40:36

STATUS: To-Do

PRIORITY: -5

OWNER ID: 1

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